The growing popularity of high-tech vehicles is increasing the deployment of smart automotive wireless chargers.
The growing popularity of high-tech vehicles is increasing the deployment of smart automotive wireless chargers.
Fact.MR, a market research and competitive intelligence provider, reveals in its recently updated industry report that the global automotive wireless charger market is approximated at a value of US$ 1.87 billion in 2024 and is projected to surge to US$ 13.61 billion by the end of 2034.
The surge in the registration of vehicles is set to boost the sales of wireless charging technologies across the world over the next decade. Wireless chargers or charging pads are gaining traction due to the reduction of cord connections. Portable electronic devices can be effectively charged with the help of advanced automotive wireless chargers. This wireless charging technology is evolving and is expected to exhibit high demand throughout the forecast period. Their growing use in charging smart devices, robots, and autonomous guided vehicles is expected to boost overall market growth during the coming decade.
Cordless chargers offer better user interaction, reachability, and automation compared to traditional technologies. Smartphones and key fobs can be easily charged by placing them on the charging pad placed on dashboard or console of vehicle. These automations are increasing their demand growth.
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Key Takeaways from the Market Study:
“Wireless charging solutions being more extensively used in electric vehicles. With EV sales gaining traction in several parts of the world, the market is expected to boom over the coming years,” says a Fact.MR analyst.
Regional Analysis
North America and Europe are the most profitable markets for automotive wireless charger producers. This can be attributed to the presence of tech-savvy consumers and the production of high-tech vehicles. Countries such as the United States, the United Kingdom, and Germany are advancing in the field of automotive. The constant introduction of innovative car models is expected to increase the adoption of smart wireless charging technologies in these countries.
East Asia is projected to be a fast-growing market for automotive wireless charger producers. China is estimated to hold high share in East Asia market in 2024. Japan and South Korea are also set to offer ample opportunities to key market players.
Automotive Wireless Charger Industry News:
Key players in the automotive wireless charger market include HARMAN, 2E, Continental, Aircharge, Belkin, Huawei, Infineon, etatronix, hoco Tech, Powermat, and ROHM. To maintain a competitive edge, leading companies are integrating advanced technologies and adopting strategies such as new product launches, mergers, partnerships, and manufacturing expansions to maximize profitability. In January 2022, ROHM Co Ltd introduced an automotive wireless charging solution equipped with near-field communication (NFC). This innovation features Foreign Object Detection (FOD) to identify metallic objects and utilizes NFC for device authentication, enabling seamless infotainment operations.
Leading Players Driving Innovation in the Automotive Wireless Charger Market:
Key industry participants like Aircharge, Belkin, Huawei, Infineon, MPS, NXP, Powermat, Continental, etatronix, hoco Tech, HARMAN, 2E, LG, ROHM etc. are driving the automotive wireless charger industry.
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More Valuable Insightson Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global automotive wireless charger market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights on the market based on power (5W chargers, 10W chargers, 15W chargers), charger type (built-in chargers, portable chargers), technology (inductive chargers, resonant chargers, radio frequency chargers), vehicle category (passenger vehicles, commercial vehicles), and sales channel (OEMs, aftermarket), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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A wireless charger is a device that allows for the charging of electronic devices without the need for physical connectors, using electromagnetic fields to transfer energy.
CAGR stands for Compound Annual Growth Rate, which is the mean annual growth rate of an investment over a specified time period longer than one year.
Smart devices are electronic devices that connect to the internet and can be controlled remotely, often featuring advanced functionalities and automation.
Market share indicates the percentage of an industry's sales that a particular company controls, reflecting its competitiveness and market presence.
A charging pad is a flat surface designed to wirelessly charge devices by placing them on the pad, eliminating the need for cables.
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